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Doubt in capital gains

Income Tax - Started By: - Siva Rama - Dated:- 10-2-2017 Last Replied Date:- 30-12-1899 - A super senior citizen assesee is having a residential property (Place A). That property is about to be sold on Mar 2017. The long term capital gain on sale of .....

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0 lakhs. The flat is under construction. Super Senior father assessee gave out of advance received (Place A) on May 2016 ₹ 30 lakhs to son and son handed over to builder as advance for flat (Place B). The sale agreement is between builder and s .....

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ace B) in the name of father. Father will handover balance ₹ 10 lakhs to son and son will handover to builder on Mar end 2017. On Mar end 2017 (i.e after the sale of property in place A), the sale deed registration will be executed between Buil .....

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r. If new property is constructed, exemption under section 54 can be obtained if it is constructed within 3 years from the date of transfer. Here the flat is under-construction. Will it be treated as construction or purchase? Advance for new property .....

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n of new flat. But it was first transferred to son s bank account and then it is transferred to builder by son. In ITO Ward -2 Gurgaon v Dr Smita Swarup , 2014 (6) TMI 559 - ITAT DELHI Assessment year : 2007-08, the Delhi Tribunal has dismissed the a .....

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.10.2006) or within two year after the date of transfer (i.e. from 19.10.2006 to 19.10.2008). Or the assessse is eligible to construct a property within 3 years from the date of transfer (i.e. 19.10.2006 to 19.10.2009) The assessee entered into agree .....

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